N.Y. Real Property Law 274 – Transfers and mortgages of interest in decedents' estates
§ 274. Transfers and mortgages of interest in decedents' estates. Every conveyance, assignment, or other transfer of, and every mortgage or other charge upon the interest, or any part thereof, of any person in the estate of a decedent which is situated within this state, shall be in writing, and shall be acknowledged or proved in the manner required to entitle conveyances of real property to be recorded. Any such instrument may also be recorded as hereinafter provided; and if not so recorded, it is void against any subsequent purchaser or mortgagee of the same interest or any part thereof, in good faith and for a valuable consideration, whose conveyance or mortgage is first duly recorded. If such interest is entirely in the real property of a decedent, the conveyance or mortgage shall be recorded in the office of the recording officer where such real property is situated. If such interest is in both the personal and the real property of a decedent the conveyance or mortgage shall be recorded in the office of the surrogate issuing letters testamentary or letters of administration upon the said decedent's estate, or if no such letters have been issued, then in the office of the surrogate having jurisdiction to issue the same, and also in the office of the said recording officer. Such a conveyance or mortgage when so recorded, shall be indexed under the name of the decedent, in a book to be kept for the purpose by each recording officer. The person presenting any such instrument for record shall pay to the clerk of the surrogate's court a fee of ten cents for each folio. Such filing or recording shall not be deemed notice of such conveyance, assignment or other transfer of, or mortgage or other lien or charge upon the interest, or any part thereof of any person in the estate of a decedent which is situated within the state, so as to charge the legal representative of the estate with liability for payment to a legatee or other beneficiary of an estate unless and until he shall have received actual notice of such conveyance, assignment or other transfer.
Terms Used In N.Y. Real Property Law 274
- Beneficiary: A person who is entitled to receive the benefits or proceeds of a will, trust, insurance policy, retirement plan, annuity, or other contract. Source: OCC
- conveyance: as used in this article , includes every instrument, in writing, except a will, by which any estate or interest in real property is created, transferred, assigned or surrendered. See N.Y. Real Property Law 240
- Decedent: A deceased person.
- Jurisdiction: (1) The legal authority of a court to hear and decide a case. Concurrent jurisdiction exists when two courts have simultaneous responsibility for the same case. (2) The geographic area over which the court has authority to decide cases.
- Legatee: A beneficiary of a decedent
- Lien: A claim against real or personal property in satisfaction of a debt.
- Mortgage: The written agreement pledging property to a creditor as collateral for a loan.
- Mortgagee: The person to whom property is mortgaged and who has loaned the money.
- Real property: Land, and all immovable fixtures erected on, growing on, or affixed to the land.